Company News

FOREX-U.S. dollar slides, on pace for worst weekly stretch in a decade

    * Graphic: World FX rates in 2020
    * Mixed U.S. data fails to lift dollar
    * Dollar index heads for longest weekly losing streak since 2010
    * Yen headed for worst week vs dollar in two months 

 (Recasts, adds new comment, U.S. data, FX table, updates prices, changes byline, dateline; previous
    By Gertrude Chavez-Dreyfuss
    NEW YORK, Aug 14 (Reuters) - The dollar stumbled on Friday, falling for eight straight weeks, as
investors continued to shun it and looked to other currencies whose economies are currently outperforming
that of the United States in terms of managing the coronavirus pandemic.
    The delay in the passage of additional U.S. stimulus for virus relief did not help the dollar's cause
as well.
    The dollar's eight straight weeks of losses was its longest run of weakness in a decade, Refinitiv
data showed, with Friday's decent batch of U.S. economic data failing to lift the greenback.
    "The fact is the domestic coronavirus in the United States is the worst epidemic of any comparable
economy and that's because of the lack of management from the U.S. authorities," said Ranko Berich, head
of market analysis, at Monex Europe in London.
    "That has meant the outbreak has created a materially worse outlook for the U.S. economy than its
    Hopes for additional stimulus to combat the pandemic have faded on Friday, with the Senate and House
of Representatives in recess and no fresh talks scheduled with U.S. President Donald Trump's negotiators.

    In late morning trading, the dollar index slipped 0.2% to 93.105, on pace for eight consecutive
weeks of losses, the worst losing streak since June 2010.
    The dollar showed little reaction to data showing a 1.2% rise in the U.S. retail sales' headline
number in July, which was lower than expected, but a higher than forecast gain of 1.9%, excluding autos.

    Other reports such as consumer sentiment and industrial production had little dollar impact on Friday.

    Against other currencies, the dollar was on track to post its best weekly percentage gain versus the
yen in two months. It was last down 0.5% at 106.45 yen.
    The euro, meanwhile, continued its rise, up 0.1% at $1.1827, rising for eight straight
    Growing faith in Europe's rebound and concern about the U.S. response as the coronavirus spreads and
politicians remain deadlocked over the next relief package have bolstered the euro.
    The pound was also 0.4% higher against the dollar at $1.3110, as investors sought to focus on
a rebound in growth in June rather than a stunning 20% quarterly contraction. 
    The biggest loser this week has been the New Zealand dollar, which was down 0.8% against the
dollar this week, on pace for its worst weekly fall since mid-June.
    New Zealand has been dealing with a fresh coronavirus outbreak. Moreover, its central bank this week
flagged increased bond buying and again mentioned the prospect of negative rates.
    The New Zealand currency was last up 0.1% at US$0.6553.
    Currency bid prices at 11:00AM (1500 GMT)
 Description      RIC         Last           U.S. Close  Pct Change     YTD Pct     High Bid    Low Bid
                                              Previous                   Change                 
 Euro/Dollar      EUR=        $1.1827        $1.1812     +0.13%         +5.50%      +1.1837     +1.1784
 Dollar/Yen       JPY=        106.4200       106.9200    -0.47%         -2.24%      +107.0300   +106.4500
 Euro/Yen         EURJPY=     125.90         126.31      -0.32%         +3.25%      +126.4700   +125.7500
 Dollar/Swiss     CHF=        0.9092         0.9096      -0.04%         -6.06%      +0.9122     +0.9087
 Sterling/Dollar  GBP=        1.3107         1.3063      +0.34%         -1.15%      +1.3142     +1.3049
 Dollar/Canadian  CAD=        1.3247         1.3220      +0.20%         +2.01%      +1.3270     +1.3206
 Australian/Doll  AUD=        0.7171         0.7148      +0.32%         +2.14%      +0.7174     +0.7133
 Euro/Swiss       EURCHF=     1.0755         1.0747      +0.07%         -0.89%      +1.0761     +1.0742
 Euro/Sterling    EURGBP=     0.9022         0.9038      -0.18%         +6.72%      +0.9050     +0.9002
 NZ               NZD=        0.6554         0.6545      +0.14%         -2.70%      +0.6559     +0.6527
 Dollar/Norway    NOK=        8.8980         8.8813      +0.19%         +1.36%      +8.9499     +8.8681
 Euro/Norway      EURNOK=     10.5269        10.4930     +0.32%         +7.00%      +10.5505    +10.4860
 Dollar/Sweden    SEK=        8.6997         8.6841      +0.22%         -6.94%      +8.7307     +8.6744
 Euro/Sweden      EURSEK=     10.2909        10.2680     +0.22%         -1.70%      +10.2966    +10.2580
 (Reporting by Gertrude Chavez-Dreyfuss; Additional reporting by Ritvik Carvalho in London
Editing by Marguerita Choy)